Mizuho Raises AMD Price Target to $415
Mizuho analyst Vijay Rakesh raised the price target on AMD (NASDAQ: AMD) to $415.00 (from $280.00) while maintaining a Outperform rating.
“AMD reported good MarQ and guided JunQ better to $11.2B (consensus $10.5B).
Key highlights: 1) Solid JunQ guide with DC up DD% q/q (consensus $6B), with CPU/GPUs; 2) Server EPYC CPUs upside on Agentic AI with Turin/Genoa and Venice on track 2H26E, and 3) With 2026E AI/hyperscaler DC CAPEX accelerating to up 67% y/y, vs up 33% in Jan’26, we see tailwinds from AMD DC Strong growing 2026/27E at up 77%/up 85% y/y, Server CPU tailwinds driving C26/C27E rev up 54%/up 63%% y/y.
Maintain Outperform, raising Ests and PT to $415 (prior $280), ~30x P/E F27E (prior: 23x) a premium to peers with 2026/27 EPS growing faster, up 72%/92% y/y, as Agentic AI CPU and upcoming Multi-GW MI4XX Instinct instances ramp.”
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